Pros
Qualcomm is a very stable company, so there's no fear if the company will survive. The insurance policy is great for employees with family. Corporate identity is strong and there are quarterly team building events. Performance reviews are twice a year, but might not be getting more increment than companies with yearly reviews.
Cons
Work life balance is bad, and I have feedback about this to my supervisor, only to be told that "that's the way it is". The twice-yearly performance review system is a farce, the increments are more like yearly increment being spread out twice, and the increments are never worth the hours that we put in. Increment amounts are also dubious, and can differ > 5% between employees with same work function. The general focus is not on the engineering work, but on creating "visibility" for yourself, which seems to be the top "unwritten" agenda; if you've done good work and you don't sell/promote to your supervisors, its your own fault because its not their job to know and recognize what you've done. Some managers seems to be more concerned about VIP visits and RC activities than the real engineering work. Way too many meetings.